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The fund has $23,214,012 in total assets. If the fund’s annual losses stay the same, it would run out of money in 23 years without these subsidies.
The fund earned $1,560,226 in investment income and other revenue in 2018. At the same time, it paid out $2,589,825 in expenses, according to the 2019 biennial report detailing the health of each of the state’s pension funds and retirement systems. The difference between the two shows the fund’s annual loss without subsidies.
Taxpayers added $1,392,228 to the fund’s revenue last year – an amount that has decreased from $1,496,649 five years ago. Members contributed an additional $314,723 – $36,311 more than five years ago.
In all, subsidies amounted to $1,706,951 in 2018.
Freeport Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $1,560,226 | $2,589,825 | -$1,029,599 |
| 2017 | $2,125,364 | $2,427,854 | -$302,490 |
| 2016 | -$786,688 | $2,271,758 | -$3,058,446 |
| 2015 | $1,367,479 | $2,317,063 | -$949,584 |
| 2014 | $2,192,281 | $1,975,677 | $216,604 |
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